William Blair Reaffirms Outperform Rating for CAVA Group (NYSE:CAVA)

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating reiterated by stock analysts at William Blair in a research report issued on Wednesday,RTT News reports. William Blair also issued estimates for CAVA Group’s FY2024 earnings at $0.49 EPS.

Other research analysts have also recently issued reports about the stock. Wedbush lifted their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley cut CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Loop Capital increased their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. TD Securities lifted their price target on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group increased their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $140.14.

CAVA Group Trading Down 6.1 %

Shares of CAVA stock opened at $138.29 on Wednesday. The stock has a market cap of $15.81 billion, a P/E ratio of 300.63 and a beta of 3.23. CAVA Group has a 1 year low of $31.47 and a 1 year high of $172.43. The stock has a 50 day simple moving average of $130.75 and a 200 day simple moving average of $103.50.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter last year, the business earned $0.06 earnings per share. CAVA Group’s revenue was up 38.9% on a year-over-year basis. Analysts forecast that CAVA Group will post 0.46 EPS for the current year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 22.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock worth $38,310,084. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares during the period. Capital Research Global Investors grew its holdings in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after acquiring an additional 451,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after acquiring an additional 373,835 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in CAVA Group by 233.4% during the third quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock worth $49,415,000 after purchasing an additional 279,306 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.